Morning Brief: White House delays tariffs

Tuesday, May 1, 2018

What to watch today

The first day of May will bring investors the biggest earnings event of the week — quarterly results from Apple (AAPL). After the market close on Tuesday, the world’s largest company by market cap will report results for its fiscal second quarter, with much of the focus likely to be on iPhone sales and whether demand for the company’s flagship device is flagging. As Yahoo Finance’s Dan Howley noted in a preview of the company’s report, concerns around Apple’s future have bubbled up in the last few weeks after some of its suppliers reported weak guidance while questions still linger around whether Apple made the right move by debuting its flagship iPhone X alongside an updated, but less souped-up, iPhone 8.

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Tim Cook, Chief Executive Officer of Apple Inc., takes a selfie with a customer and her iPhone as he visits the Apple Store in Chicago, Illinois, U.S., March 27, 2018. REUTERS/John Gress

Top news

White House delays tariffs on EU, Canada, and MexicoThe White House said it would postpone a decision on imposing tariffs on U.S. imports of steel and aluminum from the European Union, Canada, and Mexico for 30 days, avoiding the potential for a trade battle with Europe as the U.S. prepares for tense trade talks in China this week. [Reuters]

Report: Mueller gives list of questions to Trump’s lawyers: Special counsel Robert Mueller has given a list of almost four dozen questions to lawyers for President Donald Trump as part of his investigation into Russian meddling in the 2016 election and whether Trump obstructed justice. The questions range from Trump’s motivations for firing FBI Director James Comey a year ago to contacts Trump’s campaign had with Russians. [AP]

WhatsApp CEO Jan Koum to leave Facebook amid privacy flap: Koum didn’t elaborate on his reasons for leaving, other than to say it was time to “move on” so he could spend more time “collecting rare air-cooled Porsches, working on my cars and playing ultimate frisbee.” [AP]

CEO caught on TV singing ‘We’re in the Money’ after takeoverThe CEO of British supermarket chain Sainsbury’s has apologized after being caught on camera singing ‘We’re in the Money’ following the takeover of Walmart’s (WMT) unit Asda. [AP]

China’s HNA drops bid to buy Scaramucci’s SkyBridge due to regulatory hold-upChinese conglomerate HNA Group has dropped its bid for most of SkyBridge Capital, a hedge fund investment firm founded by U.S. President Donald Trump’s former aide Anthony Scaramucci, as the deal was still stuck with U.S. regulators after more than a year. [Reuters]

Mnuchin says U.S. doesn’t seek to put Rusal out of business: The U.S. isn’t seeking to put Russian aluminum giant United Co. Rusal out of business by sanctioning the company, Treasury Secretary Steven Mnuchin said, but its majority owner Oleg Deripaska must reduce his stake to less than 50%. [Bloomberg]

For more of the latest news, go to Yahoo Finance

A duck paddles past a car parked along a flooded street adjacent to the Thames after the river burst its banks following heavy rain in London, Britain, April 30, 2018. REUTERS/Toby Melville

Yahoo Finance Originals

Berkshire’s Combs is working on an idea that Warren Buffett hopes every company will steal

Trump: The stock market ‘would’ve been up 60%, but I have to do things’

Guggenheim Investments chairman: Here’s what will cause the next stock-market downturn

Oscar Mayer launches cryptocurrency for bacon

Study: 1 in 5 American homes get broadband through smartphones

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The Morning Brief provides a quick rundown on what to watch in the markets, top news stories, and the best of Yahoo Finance Originals.